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Money Management

Invesco’s AUM increases 2.2% in quarter on inflows of $2.7 billion

Invesco (IVZ) had $937.6 billion in assets under management as of Dec. 31, up 2.2% from Sept. 30 and up 15.3% from Dec. 31, 2016, the company's earnings statement showed Wednesday.

The firm's acquisition of the European exchange-traded funds provider Source from Warburg Pincus added $26 billion in AUM upon purchase, the statement said.

Invesco reported net inflows of $2.7 billion for the fourth quarter, compared to net inflows of $11.5 billion for the third quarter and net inflows of $1.1 billion for the fourth quarter of 2016.

The firm's long-term active strategies had $3.6 billion in net inflows for the most recent quarter, compared to net inflows of $3.9 billion during the previous quarter, and net outflows of $1.9 billion for the quarter ended Dec. 31, 2016. Long-term passive strategies experienced $800 million in net inflows, compared to $1.3 billion in net inflows during the quarter ended Sept. 30 and net inflows of $2 billion in the quarter ended Dec. 31, 2016.

Invesco's institutional money market business experienced $3.3 billion in net outflows during the quarter vs. net inflows of $5.4 billion in the previous quarter and net inflows of $1.1 billion in the year-earlier quarter.

Non-management fee-earnings AUM, which includes Invesco's PowerShares ETF business, saw net inflows of $1.6 billion during the fourth quarter, compared to net inflows of $900 million during the third quarter and net outflows of $100 million in the fourth quarter of 2016.

Invesco's revenue was $1.38 billion for the most recent quarter, up 2.8% from the previous quarter and up 15.1% from the same period a year ago. Net income was $408.2 million for the quarter, compared to $267.5 million in net income in the previous quarter and $226.5 million in net income in the year-earlier quarter.